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<BLOCKQUOTE class="postcontent restore">Sources: expectations moved in the general budget of the State of lower oil prices in the world
Date: Mon 30/05/2011 7:53
Baghdad / term follow-up to the economic - and agencies
Economists expect to be affected by the current year budget in Iraq as a result of lower oil prices on the world market during the coming period, noting that the reason is due to fears of instability in the Middle East,
While stressing the Iraqi oil that it managed to sell oil during the last period at high prices has been able to bridge the budget deficit. The economist said on behalf of Antoine's (Rn) "The global demand of increasing crude oil supply in the global market and the devaluation of the dollar against other foreign currencies, may remain dominant for long."
"The process could drag on until after the next rate rise to the demand for raw material."
Antoine predicted that "affected the current year budget in Iraq as a result of lower oil prices on the world market during the coming period, noting that" The decline can not balance the budget with the promotion of complementary fill the shortfall, estimated at about 12 billion dollars. "
For his part, recalled a member of the Federation of Iraqi Industries Hamid Abdel-Meguid that "the global market waiting to rise in the price of a barrel of oil again before the end of the year 2012, according to global reports."
Explains Abdul Majeed's (Rn) that "the current year budget will not be able to bridge the shortfall Bmpelgha, but it will depend on the amounts that will return them to the state treasury ministries end of the year as a result of low rates of completion of projects."
However, that "the slow rise in oil prices by 1% annually, will not remain so without a rise in price due to global demand for oil," expected to witness the high price of a barrel of oil in the global market force. "
For his part, enhanced oil expert who served as general director in the Ministry of Oil before 2003 Thamer Saeed went to him as Abdel-Meguid said, "What makes the high price of oil is inevitable and is strongly depth of the crisis of unemployment in the United States."
And confirms Said's (Rn) that "the crisis of unemployment in the United States up to 9% formal and 13% if taking into consideration the low labor force participation, that the crisis will have some impact inevitable rise in oil prices in the global market, it that brings with it financial resources that it could be a country such as Iraq, the implementation of many projects outside the budget plans. "
And calls for oil expert Said, "the Iraqi government to create a balance between the labor market and the oil market to be a significant increase in the price of oil, pointing out that" the price of oil fell in trading to 97.9 dollars per barrel, while the price of gold from 1508.9 dollars per ounce to 1509.3 dollars, while fall in the price of silver from 35.09 to 34.7 dollars. "
For her part, the Ministry of Oil on the lips of the Director-General of the Iraqi State Oil Marketing Sumo Falah al-Amiri, said his ministry "has been able to bridge the shortfall in the general budget for 2011."
And the Ameri's (Rn) that "the general budget approved $ 60-65 dollars per barrel of oil, but Iraq was able to export oil through the last period of the highest price."
He pointed out that there is "an increase in oil production in some oil fields, especially fields which were transmitted to the international companies within the first licensing round, noting that" Iraq's production of crude oil is currently hitting 2.0007 million barrels a day and issued more than two million barrels a day. "
He favored the Director General of Iraqi oil marketing Sumo that "up to the Iraqi oil production to three million bpd by the end of the year 2011, pointing out that" increasing oil production by oil companies in the global mean increase of capital by companies for the rehabilitation of these fields and in turn reflect on increased production by more than the budget allocation and perceptions. "
The Iraqi Council of Representatives had voted in the 21 of February last a majority for the current year budget of $ 81.9 billion and a deficit worth 13.3 billion dollars, included in operating expenses, ie salaries and wages in particular, by $ 56.4 billion, while the investment expenditures $ 25.4 billion, "that" the estimated total revenue to $ 68.6 billion based on the export of 2.2 million barrels of oil per day at 76.5 dollars per barrel, including a hundred thousand barrels of the Kurdistan region.
The Iraqi government has said that the value of the budget deficit of 15.7 trillion dinars (13.3 billion dollars) that will be covered from the surplus and the amounts retained in the budget year 2010, and internal and external borrowing and savings derived from the increase in oil prices.
In the meantime, announced an official source at the Ministry of Finance said the ministry will restructure the financial budget in 2012 on the basis that the price of a barrel of oil $ 85, provided that at least Iraq to export crude oil of 2.5 million barrels a day.
The Director of Information at the Ministry of Finance Zaid Zamel told the Kurdish news agency (Rn) "The Ministry of Finance will restructure the state budget for 2012 on the basis that the price of crude oil $ 85 per barrel, which will organize the process of preparing the budget well."
"The Ministry of Finance will adopt the budget in the organization of a file on the basis that Iraq will be 2.5 million barrels of crude oil to different markets."
"The Ministry of Finance will budget structure in 2012 according to the service projects that represent the priority of the citizens included in the five-year plan of the state."
Iraq relies on the financing of its budget on crude oil, which prepared by economists as a risk in the Iraqi economy because of failure to diversify its sources and development of industrial and commercial sectors and other development.
The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget about 93 trillion Iraqi dinars (79.6 billion dollars), when calculated per barrel to 73 dollars, and the rate of export of 2.25 million barrels a day. However, the House of Representatives asked back again to modify the doors and start again.
Iraq relies He is a member of the Organization of Petroleum Exporting Countries on oil revenues to finance about 95 percent of its annual budget.
The budget proposed the largest and the largest budget since the founding of the Iraqi state in the event of approval by the House of Representatives in the coming days.
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Date: Mon 30/05/2011 7:53
Baghdad / term follow-up to the economic - and agencies
Economists expect to be affected by the current year budget in Iraq as a result of lower oil prices on the world market during the coming period, noting that the reason is due to fears of instability in the Middle East,
While stressing the Iraqi oil that it managed to sell oil during the last period at high prices has been able to bridge the budget deficit. The economist said on behalf of Antoine's (Rn) "The global demand of increasing crude oil supply in the global market and the devaluation of the dollar against other foreign currencies, may remain dominant for long."
"The process could drag on until after the next rate rise to the demand for raw material."
Antoine predicted that "affected the current year budget in Iraq as a result of lower oil prices on the world market during the coming period, noting that" The decline can not balance the budget with the promotion of complementary fill the shortfall, estimated at about 12 billion dollars. "
For his part, recalled a member of the Federation of Iraqi Industries Hamid Abdel-Meguid that "the global market waiting to rise in the price of a barrel of oil again before the end of the year 2012, according to global reports."
Explains Abdul Majeed's (Rn) that "the current year budget will not be able to bridge the shortfall Bmpelgha, but it will depend on the amounts that will return them to the state treasury ministries end of the year as a result of low rates of completion of projects."
However, that "the slow rise in oil prices by 1% annually, will not remain so without a rise in price due to global demand for oil," expected to witness the high price of a barrel of oil in the global market force. "
For his part, enhanced oil expert who served as general director in the Ministry of Oil before 2003 Thamer Saeed went to him as Abdel-Meguid said, "What makes the high price of oil is inevitable and is strongly depth of the crisis of unemployment in the United States."
And confirms Said's (Rn) that "the crisis of unemployment in the United States up to 9% formal and 13% if taking into consideration the low labor force participation, that the crisis will have some impact inevitable rise in oil prices in the global market, it that brings with it financial resources that it could be a country such as Iraq, the implementation of many projects outside the budget plans. "
And calls for oil expert Said, "the Iraqi government to create a balance between the labor market and the oil market to be a significant increase in the price of oil, pointing out that" the price of oil fell in trading to 97.9 dollars per barrel, while the price of gold from 1508.9 dollars per ounce to 1509.3 dollars, while fall in the price of silver from 35.09 to 34.7 dollars. "
For her part, the Ministry of Oil on the lips of the Director-General of the Iraqi State Oil Marketing Sumo Falah al-Amiri, said his ministry "has been able to bridge the shortfall in the general budget for 2011."
And the Ameri's (Rn) that "the general budget approved $ 60-65 dollars per barrel of oil, but Iraq was able to export oil through the last period of the highest price."
He pointed out that there is "an increase in oil production in some oil fields, especially fields which were transmitted to the international companies within the first licensing round, noting that" Iraq's production of crude oil is currently hitting 2.0007 million barrels a day and issued more than two million barrels a day. "
He favored the Director General of Iraqi oil marketing Sumo that "up to the Iraqi oil production to three million bpd by the end of the year 2011, pointing out that" increasing oil production by oil companies in the global mean increase of capital by companies for the rehabilitation of these fields and in turn reflect on increased production by more than the budget allocation and perceptions. "
The Iraqi Council of Representatives had voted in the 21 of February last a majority for the current year budget of $ 81.9 billion and a deficit worth 13.3 billion dollars, included in operating expenses, ie salaries and wages in particular, by $ 56.4 billion, while the investment expenditures $ 25.4 billion, "that" the estimated total revenue to $ 68.6 billion based on the export of 2.2 million barrels of oil per day at 76.5 dollars per barrel, including a hundred thousand barrels of the Kurdistan region.
The Iraqi government has said that the value of the budget deficit of 15.7 trillion dinars (13.3 billion dollars) that will be covered from the surplus and the amounts retained in the budget year 2010, and internal and external borrowing and savings derived from the increase in oil prices.
In the meantime, announced an official source at the Ministry of Finance said the ministry will restructure the financial budget in 2012 on the basis that the price of a barrel of oil $ 85, provided that at least Iraq to export crude oil of 2.5 million barrels a day.
The Director of Information at the Ministry of Finance Zaid Zamel told the Kurdish news agency (Rn) "The Ministry of Finance will restructure the state budget for 2012 on the basis that the price of crude oil $ 85 per barrel, which will organize the process of preparing the budget well."
"The Ministry of Finance will adopt the budget in the organization of a file on the basis that Iraq will be 2.5 million barrels of crude oil to different markets."
"The Ministry of Finance will budget structure in 2012 according to the service projects that represent the priority of the citizens included in the five-year plan of the state."
Iraq relies on the financing of its budget on crude oil, which prepared by economists as a risk in the Iraqi economy because of failure to diversify its sources and development of industrial and commercial sectors and other development.
The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget about 93 trillion Iraqi dinars (79.6 billion dollars), when calculated per barrel to 73 dollars, and the rate of export of 2.25 million barrels a day. However, the House of Representatives asked back again to modify the doors and start again.
Iraq relies He is a member of the Organization of Petroleum Exporting Countries on oil revenues to finance about 95 percent of its annual budget.
The budget proposed the largest and the largest budget since the founding of the Iraqi state in the event of approval by the House of Representatives in the coming days.
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